Orange County NC Website
Page 8 of 51 <br />Section 4.1.Creation of the Lien and Personal Obligation of Assessments. The <br />Declarant, for each Lot owned within the Property, hereby covenants, and each Owner of any Lot <br />by acceptance of a deed therefore, whether or not it will be so expressed in such deed, is deemed <br />to covenant, and agree to pay to the Association: (1) annual assessments or charges which are <br />Common Expenses, (2) special assessments for extraordinary maintenance and capital <br />improvements, and (3) special assessments for purchase, construction, or reconstruction of <br />improvements; The annual and special assessments together with interest, costs, and reasonable <br />attorney's fees for collection, will be a charge on the land and will be a continuing lien upon the <br />Lot against which each such assessment is made. Each such assessment, together with interest, <br />costs, and reasonable attorney's fees, will also be the personal obligation of the person who was <br />the Owner of such Lot at the time when the assessment fell due. The personal obligation for the <br />delinquent assessments will not pass to his successors in title unless expressly assumed by them. <br />The Association will also have the authority, through the Board of Directors to establish <br />fix, and levy a special assessment on any Lot to secure the liability of the Owner thereof to the <br />Association arising from breach by such Owner of any of the provisions of this Declaration <br />which breach will require the expenditure of time: and money or both, by the Association for <br />repair or remedy, including court costs and reasonable attorneys fees if necessary for the <br />enforcement of the provisions herein. <br />Each Owner covenants for himself, his heirs, successors, and assigns, to pay each <br />assessment levied by the Association on the Lot described in such conveyance to him within ten <br />(10) days of the due date as established by the Board, and further covenants that if said <br />assessment will not be paid within thirty (30) days of the: due date, the payment of such <br />57